Financial and Banking News

REGIONAL BANKING

MEFG Completes Takeover of AAB in Bahrain 

The Middle East Finance Group (MEFG) - a Luxembourg-based holding company for the Bin Mahfuz family of Jiddah (the owners of National Commercial Bank of Jiddah and Saudi National Commercial Bank of Bahrain) - has completed its takeover of the Bahrain-based Arab Asian Bank (AAB). In a statement issued at the end of August, MEFG said that it "was assuming full control and management of Arab...